Sky not proceeding with MediaWorks acquisition

15 June 2022 Sky not proceeding with MediaWorks acquisition Further to its announcement on 7 June prompted by media speculation, Sky Network Television Limited (NZX/ASX: SKT, or Sky) advises that it has ceased discussions to evaluate the possible acquisition of MediaWorks Holdings Limited. As previously communicated, in parallel with its evaluation of potential investment opportunities, Sky has been exploring options to return capital to shareholders and accelerate organic investment in the business to drive further growth. Sky will update shareholders on its capital management plan no later than the time of the Company's Full Year Results announcement on 25 August 2022. Sky remains committed to restoring regular dividend payments, having returned to revenue growth and achieving sustainable levels of free cash flow. Ends Authorised by James Bishop, Company Secretary Investor enquiries, please contact: James Bishop Company Secretary 021 630 635 James.Bishop@sky.co.nz Media enquiries, please contact: Chris Major Chief Corporate Affairs Officer 029 917 6127 Chris.Major@sky.co.nz Investors may also submit queries to: investorrelations@sky.co.nz End CA:00393833 For:SKT Type:GENERAL Time:2022-06-16 08:30:06